The proposed geothermal program is a multi-phase initiative led by Druk Holding and Investments (DHI) to unlock Bhutan’s geothermal potential across multiple Dzongkhags such as Gasa, Punakha, and Gelephu:
Electricity Generation – Deploy small-scale electricity generation providing baseload renewable power to the grid.
Project description
Direct Use Applications – Heat networks for district heating, greenhouses, aquaculture, industrial heat, and other commercial uses.
Tourism & Wellness – Eco-tourism and geothermal spa/wellness developments leveraging Bhutan’s abundant hot springs.
Capability Building – Specialist training and technology transfer to build domestic geothermal competencies.
This project is designed to diversify Bhutan’s renewable energy portfolio, add reliable baseload power, and unlock value-added sectors (tourism, agriculture).
Why this Matters Now
Energy security & diversification – Bhutan’s heavy reliance on hydropower exposes it to seasonal fluctuation risk; geothermal provides a year-round, “always on” complement.
Decarbonization & climate goals – As a country committed to sustainability, geothermal power can reduce greenhouse gas emissions and strengthen climate resilience.
Economic growth & jobs – Early investment catalyzes job creation in construction, operations, and high-skill technical roles.
Global investor interest in clean baseload energy – Dispatchable renewables like geothermal are increasingly attractive to institutional capital seeking long-term stable returns.
Why Bhutan and Why InnoTech
Untapped geothermal potential across multiple hot spring sites that are preliminarily confirmed but not yet exploited at scale.
Government backing & strategic vision – DHI’s 10x growth strategy and growing emphasis on renewable diversification make this an opportune moment.
Clean reputation & export potential – Bhutan’s electricity exports (primarily hydro) already support regional markets; geothermal can strengthen export portfolios.
Innovation capability – Teams' expertise (technology, engineering, project management) positions the team as a credible developer/partner.
Aligned with Bhutan’s vision for sustainable, high-impact energy investments.
Opportunity to lead in an emerging market where early movers benefit from preferential access, partnerships, and potential incentives.
Investment Required/Project Cost:
Early-stage costs include resource exploration (geophysics, drilling), feasibility studies, permitting, and environmental assessments.
Development costs for small binary plants typically range from ~$3–7 million per MW (global benchmarks) depending on geology, depth, and technology.
Direct use infrastructure (heat networks, greenhouse systems, spa facilities) adds incremental investment but diversifies revenue streams.
Long-term operational costs are low relative to fossil alternatives, with high capacity factors and predictable output
What We Are Seeking:
Strategic partners & capital to explore, develop, and commercialize geothermal resources for power generation and direct use applications (heating, cooling, industrial heat).
Technology providers with expertise in geothermal resource assessment, drilling, binary/ORC power plants, reservoir engineering, and modular geothermal systems.
Co-investment frameworks with sovereign entities, global clean energy funds, development finance institutions, and industry leaders to de-risk early stages.
Long-term offtake commitments and integrated energy solutions that complement Bhutan’s existing hydro and solar energy mix, especially during seasonal hydro shortfalls
Want to collaborate on this project? Write the lead directly, or pitch an adjacent idea through the open queue.
Druk Holding and Investments (DHI) was established with a mandate to enhance the performance and value of its portfolio companies and safeguard national wealth for all generations of Bhutanese through prudent investments. Over the past decade, DHI has built a diversified group of companies operating across key sectors — energy, telecommunications, finance, manufacturing, technology, and services.
Our objective is to establish a national-scale, technology-enabled GLOF risk monitoring and mitigation platform, beginning with high-risk catchments such as the Punatsangchhu basin.
